Noranda Aluminum has announced a filing with Missouri Public Service Commision. “Missouri’s largest consumer of electricity is asking the Missouri Public Service Commission to cut its electric rate, saying Ameren Missouri is overcharging customers,” reports BloombergBusinessweek.
“Noranda Aluminum Holding Corp. filed the request Thursday. The request seeks about a 25 percent reduction in the electric rate Ameren charges for power at Noranda’s aluminum smelter in the southeast Missouri town of New Madrid.”
“If approved, rates for other Ameren Missouri customers could rise. Noranda says its request would be expected to increase other consumers’ rates by 1.8 percent or less.”
“Warren Wood, Ameren Missouri’s vice president of legislative and regulatory affairs, says the utility will fight the cuts. He told the St. Louis Post-Dispatch that Noranda in effect is seeking to pass on the cost of its rate cut to other customers.”
In metal price news for aluminum…
The week’s biggest mover on the weekly Aluminum MMI® was the Chinese aluminum cash price, which saw a 3.3 percent decline. Following a steady week, prices for Chinese aluminum bar closed flat. Chinese aluminum billet remained essentially flat from the previous week. The week finished with no movement for Chinese aluminum scrap.
The cash price of primary aluminum rose 1.4 percent on the LME to $1,685 per metric ton after falling 2.7 percent during the previous week. The aluminum 3-month price rose 1.3 percent on the LME to $1,729 per metric ton after falling 2.6 percent during the previous week. Following a 1.0 percent increase in the week prior, the Indian aluminum cash price fell 0.7 percent last week.
The price of Korean 3003 coil premium over 1050 sheet did not change since the previous week. Korean 5052 coil premium over 1050 sheet remained unchanged for the week. Prices for European 5083 plate remained constant. European 1050 aluminum prices held steady from the previous week .
The Aluminum MMI® collects and weights 12 global aluminum price points to provide a unique view into aluminum price trends. For more information on the Aluminum MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.